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View Poll Results: High Income Poll
less than $10K 48 30.97%
$10K to $12.5K 28 18.06%
$12.5K to $15K 19 12.26%
$15K to $17.5K 15 9.68%
$17.5K to $20K 6 3.87%
$20K to $25K 10 6.45%
$25K to $30K 4 2.58%
$30K + 25 16.13%
Voters: 155. You may not vote on this poll

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Old 03-30-2017, 08:01 PM   #41
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So many decamillionaires here? Why are they flocking here?
This board is lots more than just money talk. For example, it's one of the most civil boards on the interwebs. Few self-made HNWIs reach that level without knowing how to be respectful towards others.
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Old 03-31-2017, 07:49 AM   #42
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I think there is a conception that most people joined this Board to obtain financial advice on how to retire early or financial advice on money management (SS, 401K, IRA etc....) after retirement.

Many people join this Board to better understand from people who have retired early how to deal with the social issues....what to do each day, how one's life changes when a career is no longer the focus, how your spouse deals with another person being home, where to travel etc......Or perhaps to simply convince themselves that it is ......OK to retire before a perceived age.

Lastly, I think the poll is skewed because more people tend to answer such polls with higher incomes. Remember the polls didn't show that Donald Trump (or Harry Truman) would win the election either.
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Old 03-31-2017, 08:03 AM   #43
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The number of people in the world with an investable asset of $10M is high, and I do not doubt that.

But when 21%, well down to 16% now, of the respondents here are up in that decamillionaire level, you have to scratch your head. ...
You also need to account for pensions. One of our friends will be retiring in a couple of years in his mid-50s from a household-name multinational. His COLA'd pension is projected to be over 250K. Add in Social as he is US citizen. If he were a forum participant, he would not need anything like 9 or 10 million to have 360K retirement income.
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Old 03-31-2017, 08:34 AM   #44
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This group is self selected to a point that nobody would seriously believe that it represents retired people in general or even those who retired early.

OTOH, give the current results of this poll to somebody in the blogo-sphere or in many so-called news sites and I can see the headlines now Over 70% of Retired People Making $10,000 a Month or More!!!!
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Old 03-31-2017, 08:50 AM   #45
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I don't think there is any great mystery here. Based on my participation on this forum over the last while, I've seen many in the wealth category needed to currently or soon spin off $20K or more in "retirement income" per month

(howsoever comprised - dividends, spendable capital gains, bond yields, rental net income, work pensions, government pensions, etc.).

Good fortune to include me on that list
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Old 03-31-2017, 09:00 AM   #46
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This group is self selected to a point that nobody would seriously believe that it represents retired people in general or even those who retired early.

OTOH, give the current results of this poll to somebody in the blogo-sphere or in many so-called news sites and I can see the headlines now Over 70% of Retired People Making $10,000 a Month or More!!!!
Retirement income between $10K and $20K a month is not hard. More than $30K/month is.

That's my story, and I am sticking with it.
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Old 03-31-2017, 09:14 AM   #47
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I first found this forum when I was trying to develop a withdrawal stategy a few years after I retired. Ended up finding Firecalc, had a few questions and asked them here. I found the envireonment welcoming ( mostly) and learned a fair bit. Chafed a bit at the frugality and LBYM culture of the community but got used to it.

In my case, and I don't want to sound smug, it helps me appreciate how lucky I am. If I had it to do over again, I probably wouldn't have been so honest about my financial position. It causes resentment. I suspect, others here, have figured that out and try to remain more low profile re their wealth. These polls allow more of the wealthy people here to reveal themselves anonymously. There is tremendous wealth in the US, and not surprising that there will be a fair number of wealthy people here.

Regardless, I stay around here because it is fun. I learn a bit about things (generally not financial), enjoy some of the ideas presented, try to give useful advice (although my point of view probably not that useful for most). Still resent a bit that this community generally discourages "tall poppies" but that is life.
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Old 03-31-2017, 09:21 AM   #48
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Monthly or annual?
Or hourly or lifetime?
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Old 03-31-2017, 09:22 AM   #49
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...Chafed a bit at the frugality and LBYM culture of the community but got used to it...
Many are frugal, because it is not a choice.

I don't think people resent wealth. It's just that when they try to work within their budget, the obvious solution of spending more money is simply not available to themselves.
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Old 03-31-2017, 09:28 AM   #50
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Many are frugal, because it is not a choice.

I don't think people resent wealth. It's just that when they try to work within their budget, the obvious solution of spending more money is simply not available to themselves.
Yes, I know and agree. It's just that frugality is sometimes viewed as a end in itself rather than a rational response to circumstances.
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Old 03-31-2017, 09:29 AM   #51
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This thread is pretty hilarious given the different takes.
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Old 03-31-2017, 09:31 AM   #52
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I'm worried about reading this poll. Somebody will raise our tax soon after reading this poll.
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Old 03-31-2017, 10:17 AM   #53
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This thread is pretty hilarious given the different takes.
Care to elaborate?
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Old 03-31-2017, 10:48 AM   #54
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Yes, I know and agree. It's just that frugality is sometimes viewed as a end in itself rather than a rational response to circumstances.
From my perspective, there are two types of frugal on this forum. Some, that I really don't like, are 'rich shame-ers'. We see it in the thread on some guy thinking about buying an expensive sport car. He gets comments about how they would never spend that much for a car, bla, bla, bla. Real preachy. They can't put themselves in someone else's place, where maybe they actually have the money to spend, so why not spend it?

Then there are some frugal types who decided to leave (or mostly leave) the daily grind of working, and have decided to do it even though they don't have a lot of resources. They are frugal, but seem happy with their choices, and don't get preachy about it. I admire that.

I'm about in the middle I guess, but I've also made the acquaintance of some pretty wealthy people. One of them could afford toys that exceeded my entire net worth. And he bought them. It wasn't a big deal to him, he didn't brag about it, it was just a fact of life for someone with his income and net worth. Good for him.

And while DW and I will occasionally enjoy a fancy dinner and good seats at the Symphony, a frugal person can also have a very enjoyable time with a bottle of inexpensive wine and pack a lunch for a free concert in the park. We enjoy those as well.

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Old 03-31-2017, 11:07 AM   #55
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On this forum, I get the most out of the practical tips on everything from credit card deals, to what to watch out for when hiring a contractor to fix something on your house. And sometimes, people even describe how to fix the item yourself.
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Old 03-31-2017, 01:07 PM   #56
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I have always been slightly curious to the point of fascination by those who have "made it" financially.

Over the years I have always inquired how people managed to become successful. During my late teens and early twenties I voraciously read books and studied how to earn more in the hopes of someday having a young stranger ask me "what I did to make it?". Now I go out of my way to hide my wealth from others and keep a low profile. Mostly because I've found most people aren't interested in bettering themselves like I was, but rather what they can get out of me.

Plus I've found that contractors charge by the zip code.
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Old 03-31-2017, 01:22 PM   #57
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Measuring success:

Money... a failure

Happiness...99th percentile



Had to vote to find out that 70% of the voters have incomes of over $120,000 per year. Very impressed.
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Old 03-31-2017, 01:36 PM   #58
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This thread is pretty hilarious given the different takes.
Sure. All the different takes on what the question means & jokes about incomes.
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Old 03-31-2017, 01:38 PM   #59
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Measuring success:

Money... a failure

Happiness...99th percentile

....
Disagree (quite loudly, in fact!). From everything you've written over the years, you and your spouse have lived a great life, including during a lengthy retirement. Money is not a measure of life; it is a means to living and you gave yourself more than sufficient means.

(Note also that this poll was an offshoot from an earlier one--and was focused initially on those who fell off the high end of the earlier poll; thus, even for polls on this site, it is unrepresentative!)
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Old 03-31-2017, 01:44 PM   #60
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Had to vote to find out that 70% of the voters have incomes of over $120,000 per year. Very impressed.
Don't be impressed, the poll I think, was directed to, or attracted responses from, the high income individuals. Self selected polls have little real meaning.

The selection > $10K/month represent 7/8th of the choices

-ERD50
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